Frisco OKs Land Sale for New Office Project on Tollway

Frisco officials have cleared the way for a new office, retail and hotel development.The city council just approved the sale of almost 11 acres on the Dallas North Tollway to developer LandPlan Inc.The building site is just north of the big Ikea furniture store.LandPlan intends to construct a 300,000-square-foot office project on the vacant tract located just south of the Dr Pepper Ballpark.And adjoining 3.7 acres is being sold for a new hotel."Our contract is to put in two office buildings that are 150,000 square feet each," said LandPlan CEO Jim Williams. "All of our parking would be in our garages," which would also serve the adjoining sports venue.The property next door will be used for a 300-room Sutton Place Hotel and restaurant. The hotel will be developed by the Canadian company owned by Dallas Star's hockey team owner Tom Gaglardi.The City of Frisco and the Frisco Economic Development Corp. jointly owned the property and will sell it to LandPlan and the hotel firm.LandPlan would pay $2 million for its site at the tollway and Roughriders Trail."Frisco will get office buildings, a hotel and mixed-use retail and restaurant" with the entire site is developed, Williams said.LandPlan has done multiple residential and commercial developments in Frisco over the years."If you count it up we've increased the tax base by almost $1 billion in Frisco," Williams said.LandPlan's new office project would be just south of the Hall Park office campus, Frisco's largest concentration of business space.Frisco has owned the property since 2013.  Continue reading...